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Bank guarantee

Contract between a bank as guarantor and a beneficiary in which the bank commits itself to pay a certain sum under certain, specified conditions. Thus, a demand guarantee is one in which the bank agrees to pay against the simple written demand of the beneficiary.

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SC sets terms for Sahara chief's release from jail  

19-06-2015| Source:PTI

Subrata Roy will, however, remain in jail as senior advocate Kapil Sibal appearing for him told the court that there was a difficulty in furnishing the bank guarantee of Rs 5,000 crore as one

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